Welcome to ESUPERFUND’s November Newsletter.
In this issue, we announce that we outperformed the ATO's 85% on-time lodgement performance benchmark. Next, we highlight that you can now track your SMSF establishment status in real-time through the Client Portal. We then introduce you to the “Print function” recently released on our website, enabling you to print or export content on our webpages. We continue to look at the recent updates we have made to the 2017 Online Checklist. Lastly, we remind you of a Contribution Splitting Strategy which you can use to boost your spouse’s Super Balance.
Client Services Manager
According to the Assessment Report by the ATO, ESUPERFUND has outperformed the ATO's 85% on-time lodgement performance benchmark. Achieving the 85% on-time lodgement performance requirement indicates that ESUPERFUND is assisting clients in meeting their tax reporting obligations in a timely manner.
ESUPERFUND will endeavour to continue to provide high-quality services to clients in the 2017-2018 Financial Year Lodgement
You can track the progress of your application by logging into your Client Portal and clicking on the "Fund Summary" tab which can be found under your "Dashboard" tab in the top menu. Click on "Details" or "More Info" for further information about the progress of your SMSF establishment.
The ESUPERFUND website contains comprehensive information. Under the main topic, there are sub-topics which some clients might find useful based on their personal circumstances. If you would like to print or export the webpage content
into a PDF, you are recommended to use the “Print” icon located at the top right corner of each webpage. Clicking on the “Print” icon offers two options:
"Side by Side" Display Function on the “Bank” Page
When you upload a copy of the Bank Statement to your Online Checklist “Bank” page, please make sure that the right documentation is uploaded to avoid any delays. To assist you in uploading the correct documentation, we
have released a "Side by Side" display function to provide you with a sample Bank Statement as a reference when
you upload the hard copy of statements.
"On Screen" Preview Function on the “Bank”, “Upload”, and “Additional Information” Pages
Once the documentation is uploaded to your Online Checklist “Bank”, “Upload”, and “Additional Information” pages, you can preview the uploaded documentation by clicking on the “Document” icon. Please note that the documentation will be displayed on the screen rather than being downloaded.
Contribution Splitting is a strategy that enables you to boost your spouse's Super savings with some of your own. It is treated as an internal rollover between members’ accounts. To implement the Contribution Splitting Strategy successfully, Trustees must ensure that all of the following requirements are met:
In order to be eligible, your spouse must be less than the Preservation Age, or if aged between Preservation Age
to 64, not retired.
There is no age test for the Contributor.
Contribution Type and Amount
Only 85% of the Concessional Contributions made (i.e. Employer Contributions / Salary Sacrifice Contributions / Personal Concessional Contributions) can be split with your spouse.
Timing and Documentation
In order to split a Concessional Contribution with your spouse, you must complete the Contributions Splitting Form in the Financial Year immediately after the Financial Year in which the contributions were made. The completed Form is required to be provided to ESUPERFUND via our annual Online Checklist.
For example, if you wish to split the 2016-2017 Financial Year Concessional Contributions with your spouse in the 2017-2018 Financial Year Tax Return, you should complete the Contributions Splitting Form during the 2017-2018 Financial Year and provide the completed Form to ESUPERFUND via the 2018 Online Checklist.
You can visit our website for more information about the Contribution Splitting Strategy.
I have found the ESUPERFUND website the best for explaining clearly and understandably the various facets of SMSFs. My many individual queries, particularly those involving the recent complex legislative changes, have been responded to very quickly, accurately and informatively. The ease of completing the information needed for annual returns is commendable. For the annual fee charged for all they do, ESUPERFUND is the best value for money around with daylight second.
ESUPERFUND Pty Ltd as Trustee for ESUPERFUND Trust ABN 37 842 535 715
General Advice Warning
The contents of this website are of a general nature only and have not been prepared to take into account any particular investor's objectives,
financial situation or particular needs. ESUPERFUND does not provide financial product advice or recommend any financial products:
This applies equally to those financial products which are established for your SMSF when you become a client of ESUPERFUND.
Where this publication refers to a particular financial product then you should obtain a Product Disclosure Statement (PDS) relating to that product and consider the PDS before making any decision about whether to acquire the product.
We also recommend that you should seek professional advice from a financial adviser before making any decision to purchase any financial product referred to on this website.
While the sources for the material are considered reliable, responsibility is not accepted for any inaccuracies, errors or omissions.
When setting up a SMSF it is important to understand that additional fees may apply that must be carefully considered prior to making a decision to setup a SMSF including an
ATO Supervisory Levy
Company Trustee Setup Fee (where applicable)